Making An Informed Exit

Published in the American Bankers Association Journal, October 2005 IssueUnder Tech Topics, Page 72.

Reducing high employee turnover is a challenge for most banks. But to keep good employees, financial services organizations need to know the reasons employees are leaving so they can make appropriate changes to their policies and operations.

But how do you get soon-to-be-ex-employees to tell you the real reasons they are leaving? And once you get those reasons, how do you aggregate those reasons so you can spot areas and issues that need improvement?

Teresa Tanner, vice-president of human resources at Fifth Third Bank, Cincinnati, has found the answer in WebExit from Nobscot Corp., Kailua, Hawaii. The super-regional institution has used the web-based system for about two years, and Tanner says that the quality of exit interview information the system is able to capture is far better than any other types of exit interview forums, including face-to-face interviews and paper forms.